financetom
Business
financetom
/
Business
/
Two Epic Games directors appointed by Tencent resign, US Justice Department says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Two Epic Games directors appointed by Tencent resign, US Justice Department says
Dec 18, 2024 2:13 PM

WASHINGTON, Dec 18 (Reuters) - Two directors of Epic

Games who had been appointed by Chinese gaming and social media

firm Tencent Holdings ( TCTZF ) resigned from the board of the

Fortnite video game maker after the U.S. Justice Department's

antitrust division expressed concerns, the department said on

Wednesday.

The Justice Department had been concerned that the two

directors' membership on the boards of both Epic and Tencent ( TCTZF )

violated U.S. law.

Tencent ( TCTZF ) owns a minority interest in Epic Games. It is also

the parent company of a gaming competitor to Epic, Riot Games,

the Justice Department said in a statement.

"Tencent ( TCTZF ) also decided to amend its shareholder agreement

with Epic to relinquish its unilateral right to appoint

directors or observers to the Epic board in the future," the

department said.

It said the two directors' positions on both the Epic and

Tencent ( TCTZF ) boards violated Section 8 of the Clayton Act, which

prohibits directors and officers from serving simultaneously on

the boards of competitors, subject to limited exceptions.

No company or individual has admitted to liability in

connection with this investigation, the Justice Department

added. Its statement did not name the two directors in question.

Epic Games and Tencent ( TCTZF ) had no immediate comment.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Why DraftKings Stock Is Trading Up Today
Why DraftKings Stock Is Trading Up Today
Oct 22, 2025
Shares of DraftKings ( DKNG ) are rising Wednesday after the sports betting company announced a significant expansion and acquisition. DKNG is showing upward movement. Check the market position here. What To Know: DraftKings ( DKNG ) said it acquired Railbird Technologies Inc and its wholly owned subsidiary, Railbird Exchange, LLC. The acquisition supports DraftKings's ( DKNG ) broader strategy to...
CGI to Acquire Poland-based IT Company
CGI to Acquire Poland-based IT Company
Oct 22, 2025
10:39 AM EDT, 10/22/2025 (MT Newswires) -- CGI (GIB-A.TO) said Wednesday that its Polish subsidiary has entered into a conditional agreement to acquire Comarch Polska, which specializes in IT solutions for public administration. The acquisition will add more than 460 IT and business consulting professionals to CGI, growing the firm's presence in Poland and the Baltic states to 1,500 professionals....
Russia holds nuclear drills, Ukraine seeks Swedish fighter jets
Russia holds nuclear drills, Ukraine seeks Swedish fighter jets
Oct 22, 2025
* Russia says it held exercise with strategic nuclear weapons * Ukraine's Zelenskiy plans to buy Gripen fighter jets from Sweden * Russia and Ukraine carry out heavy attacks overnight * US says Putin-Trump summit plans on hold * Russia says summit takes time to prepare By Dmitry Antonov, Pavel Polityuk and Simon Johnson MOSCOW/KYIV/LINKOPING, Sweden, Oct 22 (Reuters) -...
Deere's Tech-Enabled Offerings to see Increased Uptake in the Medium Term, RBC Says
Deere's Tech-Enabled Offerings to see Increased Uptake in the Medium Term, RBC Says
Oct 22, 2025
10:38 AM EDT, 10/22/2025 (MT Newswires) -- Deere's (DE) tech-enabled machinery offerings could see increased uptake in the medium term to drive lower reliance on the agriculture production cycle, RBC Capital Markets said in a Tuesday note. The company's meaningful investments in technology research and development enabled it to widen the moat relative to the rest of the field, according...
Copyright 2023-2026 - www.financetom.com All Rights Reserved